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Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp

Athabasca Oil Corp · Oct 15, 2014 · 28 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 1
    Corporate Update Light Oil - Kaybob October 2014 Thermal Oil - Hangingstone
  2. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 2
    Value Proposition World Class Assets 1,000+ well inventory in the Duvernay shale play at Kaybob 80,000 bbls/d project potential at the Funding Hangingstone thermal asset Assets Significant long-term optionality within a diverse…
  3. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 3
    How We Get There Guiding Principles Cash Flow Growth Balance Sheet Strength Accelerate near-term cash flow Capital and cost discipline Focus on returns Focus on core assets Delivering on Commitments Execution Excellence Set…
  4. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 4
    Financial Highlights, 2014 Budget and Outlook Capitalization Highlights(1) Capital Expenditures / Funding in Place ( MM) 1,200 Stock exchange listing TSX 1000 Trading symbol ATH 800 675 600 52-week trading range 4.27 - 8.84 /sh…
  5. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 5
    Focused on our Core Assets Light Oil: Kaybob Fort 291 million 2014 budget McMurray Four rigs active; 26 additional Duvernay wells by the end of 2015 Duvernay primary target; Hangingstone 200,000 acres with the potential for…
  6. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 6
    The Duvernay is a World Class Resource Select Select Unconventional Unconventional Plays Plays In In Large in place resource North America North America World High liquid content: 100 -1,000 bbls/mmcf free Class condensate…
  7. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 7
    Industry Transitioning to Development AOC Drilling (4) AOC Drilled Duvernay (9) Licensed Duvernay (328) Drilled Duvernay (209) Athabasca Apache Chevron Hitic Shell Trilogy Shell Partial Farm In Xto Conoco Encana Talisman Other…
  8. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 8
    Activity on the Upswing Industry transitioning to development Majors are accelerating activity from the appraisal Eagle Ford to development stage Forecasted 70% lift in spending Y/Y; 2015e 3.6 B vs. 2014e 2.1 B (RBC Rundle)…
  9. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 9
    Duvernay Activity Update 14-33 Currently Drilling Nabors 82 4-29 S/C/Hz. On stream: June 16, 2014 30 day IP (restricted) 615 boe/d (0.7 mmcf/d & 710 bbls/mmcf) 8-29 Hz. CTD 41 mboe, 72% liquids On stream: June 21, 2014 30 day IP…
  10. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 10
    Liquids Yield is Driving Economics Pressure (1,000 psi) 0 5 10 15 0 AOC Industry Depth (1,000 ft) 5 08-18 01-07 10 4-32 Pad 02-34 06-10 01-25 0.44 0.6 0.7 0.8 0.9 15 Under-Pressured Over-Pressured 0 -…
  11. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 11
    Improving Cost Trends Drilling Average Well Cost Multi-well pads Complete Cost Drill Cost Fit for purpose rigs 20 Wellbore design Bit optimization 15 Experience D+C Cost (MM) 10 Completions Multi-well pads 5 Frac…
  12. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 12
    Current Duvernay Well Economics are Compelling(1) 02/2-34-62-20W5 Initial Free Liquids Economic Sensitivity(2) 2,000 350 30 1,800 Cumulative Production (mboe) 300 01-25-62-25W5 1,600 25 102/02-34 Payout Production…
  13. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 13
    Defining the Duvernay Fairway Kaybob West Kaybob East Acreage 52,000 ac Acreage 113,000 ac Locations 295 Locations 640+ NPV/well 10 17 MM NPV/well 5 15 MM Saxon/Simonette Acreage 53,000 ac Locations 300 NPV/well 13 20…
  14. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 14
    Material Near-Term Growth Duvernay Projected Daily Production 70,000 7 Potential for production to exceed 60,000 6 50,000 boe/d in 5 years Production (boe/d) 50,000 5 Inventory of 1,000 wells Rig Count 40,000 4 Growth…
  15. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 15
    AOC Controls Strategic Infrastructure Total Battery Capacity Gas Pipeline Oil Capacity 36,000 bbls/d Up to Gas Capacity 84 mmcf/d, 180 mmcf/d Gas Capacity expandable to 130 mmcf/d Kaybob East AOC 91 km Pipeline Fort…
  16. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 16
    Hangingstone Development Resource Hangingstone Regional Development Map (1) 225 MMbbls reserves 782 MMbbls contingent resources(2) Fort McMurray Development Project HS1 12,000 bbls/d First Steam expected end Q1 2015 Project…
  17. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 17
    Efficient Delivery of First Thermal Project 565 MM Cost Performance Incurred Remaining Spend Hangingstone Project 1(1) 518 MM 47 MM Progress 0% 100% Engineering Procurement Dilbit tanks September 2014 Construction…
  18. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 18
    Drilling and Reservoir Results to Date Application of Industry Best Practices 5m of separation as per design One delineation well per SAGD pair High resolution 3D seismic Integrated workflow providing optimal reservoir planning…
  19. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 19
    Development Profile Operations Cash Flow (MM/year) 140 14,000 Approved In Construction 120 12,000 Daily Production (bbls/d) 100 10,000 Hangingstone Project 1 80 8,000 12,000 bbls/d 12,000 bbl/d First steam end Q1 2015 60…
  20. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 20
    Development and Exploration Opportunities Grosmont 400 MMbbls(1) (AOC interest) Apply recovery mechanisms being tested by industry Birch Slave Point Slave Point 2.1 Bbbls(1) 675,000 acre land position Potential of 150,000…
  21. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 21
    Long-term Debt and Credit Facility Overview As at June 30, 2014 Undrawn Credit Facilities ( MM, Cdn) Interest Rate Pre-payment Terms Cdn 125 MM senior secured revolving credit facility due 2017 125 5% Pre-payable without penalty 2015…
  22. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 22
    Duvernay 4-32 Pad Initial Production 77 day 8-29-64-20W5 69 day 4-29-64-20W5 soak period (on-strike orientation) soak period (north-south orientation) 2,000 4,000 2,000 4,000 TEST POST SOAK T POST SOAK E S 1,800 3,600 1,800 T…
  23. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 23
    Duvernay 1-7 and 1-25 Initial Production 1-7-64-20W5 1-25-62-25W5 2,000 4,000 4,000 8,000 1,800 3,600 7,200 3,500 1,600 3,200 6,400 3,000 1,400 2,800 5,600 Rate (mcf/d, bbls/d) Rate (mcf/d, bbls/d) 2,500 Pressure…
  24. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 24
    Completions are Key to Commercial Success Casing Bowl: 279 mm x 245 mm x 34.5 MPa 20,000 80 Production Normalized to Proppant Placed 18,000 72 16,000 64 Cumulative BOE per 100 Tons 102/02-34-62-20W5 Casing size 9 5/8 14,000…
  25. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 25
    Montney Appraisal, Leading to Development Placid Montney Development Plan AOC Kaybob Region Montney Rights Simonette Placid Bigstone AOC Placid Type Curve 1,800 Initial condensate yield 100 bbls/mmcf Approximately one…
  26. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 26
    Application of Proven Best Practices Delineation & seismic data Reservoir management Workflow integration Thermal Oil Development Lifecycle Experienced operations teams Lifecycle planning Construction execution best…
  27. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 27
    Dover West Sands, Poised for Development Development 87 MMbbls reserves(1) 2,766 MMbbls contingent resource(2) Dover West Asset planned to be developed in multiple Road projects to a capacity 275,000 bbls/d Processing…
  28. Canaccord Genuity 8th Annual Global Resources Conference – Athabasca Oil Corp – slide 28
    Dover West Carbonate: The Next Big Resource Play Opportunity Dover West TAGD Facility 16,800 MMbbls of bitumen in place(1) in the Leduc carbonate reef ( 100 meter net pay) Dover West Road 3,001 MMbbls contingent resource(2) based…

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